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Swissquote Group Holding

CR
Bloomberg   SQN SW
Internet banking/Fintech  /  Switzerland  Web Site   |   Investors Relation
Suited for all market seasons
Target
Upside 7.02%
Price (CHF) 276.2
Market Cap (CHFM) 4,234
Perf. 1W: 2.14%
Perf. 1M: 13.2%
Perf. 3M: 19.7%
Perf Ytd: 37.2%
10 day relative perf. to stoxx600: 4.85%
20 day relative perf. to stoxx600: 12.6%
Opinion change27/04/2020

More tailwinds

Change in OpinionBuy vs Add

Change in EPS2020 : CHF 3.80 vs 3.72+2.28%
2021 : CHF 4.51 vs 4.20+7.42%

As we mentioned in our recent Latest, tailwinds are gathering today with higher volumes in H1 20 (at least) and a sharp increase in the number of accounts opening. Swissquote's recent acquisition, InternaXX, and the set up of the Singaporean operations will also add to the long-term momentum.



Change in DCFCHF 95.2 vs 73.5+29.5%

Our DCF is based on EBITDA expectations. Hence, as we have increased our expectations, our DCF mechanically rises too. Adding 2022 numbers with an 18% increase in EBITDA vs 2021 is obviously adding to the sharp increase in the DCF-based valuation.



Updates

23 Mar 21 Opinion change
All on the 2024 guidance

22 Mar 21 Earnings/sales releases
Bullish (but reachable) targets

14 Jan 21 Earnings/sales releases
The party is going on...

11 Aug 20 Earnings/sales releases
Another strong set of results

17 Jun 20 Other news/comments
More good news again...

27 Apr 20 Opinion change
More tailwinds

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